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The EUR/CHF pair fell at the beginning of Thursday, but turned back around above the 1.09 level to form a positive candle. Ultimately, we feel that this market is trying to build up enough momentum to finally break above the 1.10 level for good, leading into a longer-term “buy-and-hold” trade all the way to the 1.20 handle. However, will we need is the Euro itself to strengthen. Although it is fairly strong against the Swiss franc, one has to believe that the Swiss National Bank might be behind some of this. With that, we are buyers on a break out above the 1.10 level, and pullbacks and show signs of support.

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